EigenCoin Review: 60 to 299 day variable ROI lending ICO Ponzi
EigenCoin provide no information on their website about who owns or runs the business.
The EigenCoin website domain (“eigencoin.co”) was privately registered on April 4th, 2017.
As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money.
EigenCoin has no retailable products or services, with affiliates only able to market EigenCoin affiliate membership itself.
The EigenCoin Compensation Plan
EigenCoin affiliates invest in EIGC points at a rate of 70 cents to $1.10 each.
EIGC points are then “lent” back to the company on the promise of an advertised ROI:
- invest up to $1000 and receive a daily ROI plus 0.03% daily bonus
- invest $1001 to $5000 and receive a daily ROI plus 0.04% daily bonus
- invest $5001 to $20,000 and receive a daily ROI plus 0.05% daily bonus
EigenCoin don’t specify an exact daily ROI amount but do state it will be “up to 1%”.
A 100% ROI rate is paid out over 60 days, with EigenCoin affiliates able to increase the total ROI by consenting to a longer maturity period:
- invest for 100 days and receive a 1.1x ROI bonus
- invest for 199 days and receive a 1.3x ROI bonus
- invest for 299 days and receive a 1.5x ROI bonus
EigenCoin pay referral commissions on funds invested via a unilevel compensation structure.
A unilevel compensation structure places an affiliate at the top of a unilevel team, with every personally recruited affiliate placed directly under them (level 1):
If any level 1 affiliates recruit new affiliates, they are placed on level 2 of the original affiliate’s unilevel team.
If any level 2 affiliates recruit new affiliates, they are placed on level 3 and so on and so forth down a theoretical infinite number of levels.
EigenCoin cap payable unilevel levels at five, with commissions paid out as a percentage of funds invested across these levels as follows:
- level 1 (personally recruited affiliates) – 5%
- level 2 – 3%
- level 3 – 1%
- level 4 – 0.5%
- level 5 – 0.2%
Increased “VIP” referral rates are offered, however EigenCoin provide no specific VIP qualification criteria.
EigenCoin affiliate membership is free, however free affiliates can only earn referral commissions.
Full participation in the EigenCoin income opportunity requires investment in EIGC points.
EigenCoin presents itself as yet another entry into the MLM lending ICO Ponzi niche.
EigenCoin’s anonymous owner(s) offload worthless EIGC points in exchange for bitcoin, on the promise of an advertised ROI.
EigenCoin claim they will generate ROI revenue via ICO investment and advertising revenue.
Our team of expert analysts will reinvest a portion of our funds into the latest and most promising ICOs, redistributing profits back to our users.
All ad revenue generated on our exchange will be redistributed back to our customers.
This number will only increase as we grow our community and traffic.
No evidence of either is provided, leaving new affiliate investment the only verifiable source of revenue entering EigenCoin.
Furthermore the claim of ROI revenue being generated via advertising hold little credibility.
EigenCoin and their affiliates have a vested interest in generating advertising revenue.
Any advertising provided will thus fail genuine interest, resulting in interest from only garbage-tier advertising networks (if any).
The reality of ICO lending Ponzi schemes is they offer nothing more than a convoluted excuse for admins to shuffle newly invested funds around to pay off existing investors.
Once affiliate recruitment slows down so too does ROI revenue. Once a minimum threshold is reached, the admins cut and run with what’s left.
Along with the admin(s), early EigenCoin affiliate investors will make some money (mostly by convincing others to invest).
However in order for this to happen the majority of EigenCoin affiliates must lose money.